{"id":1129392,"date":"2019-07-29T08:25:08","date_gmt":"2019-07-29T13:25:08","guid":{"rendered":"https:\/\/www.mining.com\/?p=997799"},"modified":"2019-07-29T08:25:08","modified_gmt":"2019-07-29T13:25:08","slug":"freeport-mcmoran-to-acquire-commanders-burn-gold-project","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1129392","title":{"rendered":"Freeport-McMoRan to acquire Commander\u2019s Burn gold project"},"content":{"rendered":"<p>Commander Resources (TSXV: CMD) entered into an earn-in agreement with Freeport-McMoRan Mineral Properties Canada, a subsidiary of Arizona-based Freeport-McMoRan (NYSE<g class=\"gr_ gr_3 gr-alert gr_gramm gr_inline_cards gr_disable_anim_appear Style replaceWithoutSep\" id=\"3\" data-gr-id=\"3\">:FCX<\/g>), to allow Freeport to earn a 75% interest in the Burn gold project.<\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p>\u00a0Work in 2019 on the property is expected to begin immediately and may comprise property-wide soil sampling, geological mapping and ~ 30 kilometres<br \/> of induced polarization surveying<\/p>\n<\/blockquote>\n<\/figure>\n<p>Burn is located 100 kilometres north-northeast of the town of Smithers, in the western Canadian province of British Columbia. The property occupies 16,000 hectares and sits within the Babine Mineral belt, 70 kilometres north of two past producing mines at Bell and Granisle. According to Commander, the belt is defined by a cluster of Eocene age porphyry copper and gold deposits.<\/p>\n<p>Under the terms of the agreement, in order to earn an initial 51% interest Freeport must pay $25,000 on the effective date, $35,000 on or before the first anniversary, $50,000 on or before the second anniversary, $50,000 on or before the third anniversary and $100,000 on or before the fourth anniversary, and complete $1,000,000 in exploration.<\/p>\n<p>Commander reports that upon vesting at 51%, Freeport may elect to sole fund an additional $1,500,000 in exploration expenditures and make three annual payments of $100,000. The companies would then enter a 75% Freeport\/25% Commander Joint Venture.&nbsp;<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Initially, the US company would only acquire a 51% interest in the gold project.<\/p>\n","protected":false},"author":92,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369],"tags":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1129392"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/92"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1129392"}],"version-history":[{"count":3,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1129392\/revisions"}],"predecessor-version":[{"id":1129522,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1129392\/revisions\/1129522"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1129392"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1129392"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1129392"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}